Abstract: Family business are the dominant form of business in the world, and Chinese family business (CFB) is a unique type of family business that relies on collective action to survive. This paper argues that in CFBs, entrepreneurial actions are transgenerational collective endeavors, and successors are groomed as stewards of the family legacy. Work-life relationship in CFBs is about synergy and not balance because the family identity is the business identity, and vice-versa. Using five in-depth case studies, this research introduces an alternative understanding of CFBs and proposes a model of work-life synergy in transgenerational entrepreneurship based on discussion of five theory-based propositions. This model explains that through emphasizing on the business family’s shared value and entrepreneurial legacy, elements of trust, shared identity and stewardship of family members are enhanced which leads to collective action and goal of the business family, resulting in transgenerational entrepreneurship. Limitations and future research are presented.
Abstract: The commercial companies’ management has suffered an important material and legal transformation in the last years, mainly related to the changes in the Portuguese legal framework and because of the fact they were recently object of great expansion. In fact, next to the smaller family businesses, whose management is regularly assumed by partners, companies with social investment highly scattered, whose owners are completely out from administration, are now arising. In those particular cases, the business transactions are much more complex and require from the companies’ managers a highly technical knowledge and some specific professionals’ skills and abilities. This kind of administration carries a high-level risk that can both result in great success or in great losses. Knowing that the administration performance can result in important losses to the companies, the Portuguese legislator has created a legal structure to impute them some responsibilities and sanctions. The main goal of this study is to analyze the Portuguese law and some jurisprudence about companies’ management rules and about the conflicts between the directors and the company. In order to achieve these purposes we have to consider, on the one hand, the legal duties directly connected to the directors’ functions and on the other hand the disrespect for those same rules. The Portuguese law in this matter, influenced by the common law, determines that the directors’ attitude should be guided by loyalty and honesty. Consequently, we must reflect in which cases the administrators should respond to losses that they might cause to companies as a result of their duties’ disrespect. In this way is necessary to study the business judgment rule wich is a rule that refers to a liability exclusion rule. We intend, in the same way, to evaluate if the civil liability that results from the directors’ duties disrespect can extend itself to those who have elected them ignoring or even knowing that they don´t have the necessary skills or appropriate knowledge to the position they hold. To charge directors’, without ruining entrepreneurship, charging, in the same way, those who select them reinforces the need for more responsible and cautious attitudes which will lead consequently to more confidence in the markets.
Abstract: Similar to economies in many countries; family-owned enterprises have a significant role in the development of Turkish economy. Although they have a large share in economic terms, their lifetime is limited to working life of their founders. Failure in achieving their sustainability deeply affects not only these businesses but also the economy. Therefore, two basic elements of family owned enterprises, family and organizational culture and especially entrepreneurship culture, should be examined closely. The degree of effectiveness of parents in instilling their children with entrepreneurship culture and their effects on children's profession choices are examined through face-to-face surveys with the managers owning family businesses randomly chosen among family-owned enterprises registered in Konya Chamber of Industry, which are active in specific sectors and which had different generations in their management.
Abstract: This research aims to develop ways of lodging
business management of Bang Khonthi community in Samut
Songkram province that are appropriate with the cultural context of
the Bang Khonthi community.
Eight lodging business owners were interviewed. It was found that
lodging business that are family business must be done with passion,
correct understanding of self, culture, nature, Thai way of life,
thorough, professional development, environmentally concerned,
building partnerships with various networks both community level,
and public sector and business cohorts. Public relations should be
done through media both traditional and modern outlets, such as
websites and social networks to provide customers convenience,
security, happiness, knowledge, love and value when travel to Bang
Khonthi. This will also help them achieve sustainability in business,
in line with the 10 Home Stay Standard Thailand.
Suggestions for operators are as follows: Operators need to
improve their public relations work. They need to use technology in
public relations such as the internet. Management standards must be
improved. Souvenir and local products shops should be arranged in
the compound. Product pricing must be set accordingly. They need to
join hands to help each other. Quality of the business operation
should be raised to meet the standards. Educational measures to
reduce the impact caused by tourism on the community such as
efforts to reduce energy consumption.
Abstract: The aim of this article is to identify the measures
companies undertake in order to adapt to the environment as well as
discussing their diversity and effectiveness. The research methods
used in the study include an in-depth analysis of the literature and a
case study, which helps to illustrate the issue in question. Referring to
the concept of agility, which is firmly embedded in the theory of
strategic management and has been developed with the aim of
adapting to the environment and its changes, the paper first examines
different types of adaptation measures for companies. Then the issue
under discussion is illustrated with the example of the company
Hortimex. This company is an eminent representative of the world’s
leading manufacturers of food additives and ingredients. The
company was established in 1988 and is a family business, which in
practice means that it conducts business in a responsible manner,
observing the law and respecting the interests of society and the
environment. The company’s mission is to develop a market in
Poland for the products and solutions offered by their partners and to
share their knowledge of additives in food production and
consumption.
Abstract: Nowadays, financial and economic crises are growing
more and reach more countries and sectors. These events have, as a
result, a considerable impact on the activities of the firms which think
unstable and in danger.
But besides this heavy uncertainty which weighs on the different
firms, the family firm, object of our research, is not only confronted
with these external difficulties but also with an internal challenge and
of size: that of transmission. Indeed, the transmission of an
organization from one generation to another can succeed as it can
fail; leaving considerable damage.
Our research registers as part of these problems since we tried to
understand relation between the behavior of two main actors of the
process of succession, predecessor and successor; and the success of
transmission.